Gusbourne To Raise Between GBP3 And GBP5 Million By Subscription (ALLISS)

LONDON (Alliance News) - Gusbourne PLC said Thursday it intends to raise between GBP3 million ...

Alliance News 12 July, 2018 | 1:29PM
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LONDON (Alliance News) - Gusbourne PLC said Thursday it intends to raise between GBP3 million and GBP5 million by a subscription offer at 60 pence per share.

Shares in the wine maker were untraded, last quoted at 67.50p each.

The price represents an 11% discount to the company's closing share price on July 11 at 67.50 pence.

The company expects to close the subscription by August 17.

"The subscription is being made available to a limited selection of shareholders and other offerees, in order to avoid the requirement to publish a prospectus," the company said.

The company said it will use the funds raised for capital expenditure, additional winery and storage capacity and working capital.

Three of the company's directors said the will subscribe for some of the shares.

Deputy Chairman Mike Paul will subscribe for at least GBP50,000, Non-Executive Directors James Arbuthnot for at least GBP15,000 and Ian Robinson for at least GBP25,000.

By Elena Cherubini; elenacherubini@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Gusbourne PLC 77.00 GBX -4.94 -
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